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European stocks rise on China pledge of help

Posted by seumasach on February 15, 2012

European Stocks Rise on China Pledge of Help; BNP, Heineken Gain

Bloomberg

15th February, 2012

“China has pledged to contribute to the bailout fund, which not only could increase the firepower available but might also persuade other countries like Japan, Russia, oil-rich states and possibly even the U.S. to actively take part in combating the crisis,” said Markus Huber, head of German sales trading at ETX Capital in London.

China pledged to invest in Europe’s bailout funds and sustain its holdings of euro assets. The commitment offers an incentive to European finance ministers, who are increasing pressure on Greece to deliver budget cuts in exchange for a second bailout.

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